Marcus & Millichap Inc.
09/03/2024 | Press release | Distributed by Public on 09/03/2024 10:01
Marcus & Millichap Arranges $6.3M Sale of Multifamily Property in Maryland
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Marcus & Millichap Arranges $6.3M Sale of Multifamily Property in Maryland
September 03, 2024
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WALDORF, Md., Sept. 3, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of JSB Apartments, a 48-unit apartment property located in Waldorf, Maryland. The property sold for $6.3 million.
"The successful closing of this transaction reflects the hard work and dedication of everyone involved," said Marty Zupancic, senior vice president investments. "We extend our thanks to the seller for their partnership and are confident that the buyer's value-add strategy will unlock the full potential of this property, benefiting both residents and the surrounding community."
Zupancic and Ryan Murray, investment specialists in Marcus & Millichap's Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, RGB Holding, LLC, and procured the buyer, Lloyd Grosklags, Crain Flats Owner, LLC.
JSB Apartments, located at 2165-2169 Crain Highway, features 48 junior one-bedroom floor plans across 41,728 square feet. Situated at the gateway to Charles County, the property is just 30 minutes from Washington, D.C. and lies within the thriving D.C.-Baltimore-Richmond corridor. The complex is adjacent to the 150-acre Waldorf Station development, which is planned to include a grocery store, a state-of-the-art fitness facility and a diverse array of retail establishments.
"The successful closing of this transaction reflects the hard work and dedication of everyone involved," said Marty Zupancic, senior vice president investments. "We extend our thanks to the seller for their partnership and are confident that the buyer's value-add strategy will unlock the full potential of this property, benefiting both residents and the surrounding community."
Zupancic and Ryan Murray, investment specialists in Marcus & Millichap's Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, RGB Holding, LLC, and procured the buyer, Lloyd Grosklags, Crain Flats Owner, LLC.
JSB Apartments, located at 2165-2169 Crain Highway, features 48 junior one-bedroom floor plans across 41,728 square feet. Situated at the gateway to Charles County, the property is just 30 minutes from Washington, D.C. and lies within the thriving D.C.-Baltimore-Richmond corridor. The complex is adjacent to the 150-acre Waldorf Station development, which is planned to include a grocery store, a state-of-the-art fitness facility and a diverse array of retail establishments.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.